Financial News
AMD, Intel stocks rise after Cowen sees bullish read throughs from component suppliersExternal Link

Cowen & Co. analyst Matthew Ramsey wrote Wednesday that his May readings from component suppliers in Taiwan delivered a "positive read through" for Advanced Micro Devices Inc. and Intel Corp. , as well as a "somewhat positive" read through for Marvell Technology Group Ltd. and Silicon Motion Technology Corp. . "May processor component suppliers reported revenue increased 6% M/M (8% Y/Y), or 200bps above seasonal," Ramsey wrote. He predicts that these results could be due to better-than-expected PC shipments and increased average selling prices. Ramsey wrote that his look at the Apple Inc. supply chain also showed above-seasonal numbers, as well as 16% year-over-year growth. AMD shares are up 32% over the past 12 months, while Intel's stock has gained 52% and the S&P 500 has climbed 13%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 20 Jun 2018 12:56:49 GMT
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American Medical Association urges Trump to stop separating immigrant children from parentsExternal Link

At a recent policy-making meeting of the U.S.'s foremost doctors group, delegates said the policy "will do great harm to children and their parents or caregivers, who felt compelled to make a dangerous and uncertain journey because of safety concerns in their own countries," Madara wrote in the letter, which was made public early Wednesday. "Families seeking refuge in the U.S. already endure emotional and physical stress, which is only exacerbated when they are separated from one another. It is well known that childhood trauma and adverse childhood experiences created by inhumane treatment often create negative health impacts that can last an individual's entire lifespan." The Trump administration announced the zero-tolerance policy in early May and views separating children from their families as a deterrent to illegal migrants, according to a report. The policy has been met with condemnation from many critics.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 20 Jun 2018 12:49:38 GMT
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Alibaba's online-offline efforts could 'multiply' addressable market, says MKM PartnersExternal Link

Shares of Alibaba Group Holding Ltd. are up 0.5% in premarket trading Wednesday after MKM Partners analyst Rob Sanderson penned an upbeat note about the company and, particularly, its "new retail" business that attempts to merge online and offline commerce. "We think Alibaba is years ahead of any competitor in driving digital commerce forward," Sanderson said. "Of greater consequence is Alibaba's foray into digitizing offline commerce (New Retail), which we think is even further ahead and has potential to multiply Alibaba's addressable market." Sanderson is optimistic about the company's efforts so far with grocery stores, which are serving as an initial stage for the company's online-offline initiatives. Alibaba currently has 46 Hema grocery stores with "aggressive" plans to open more. The stock is up 48% over the past 12 months, while the S&P 500 has gained 13%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 20 Jun 2018 12:43:15 GMT
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Micron is 'best positioned' to lower its cost structure and drive NAND profitability, says CowenExternal Link

Shares of Micron Technology Inc. are up 1.4% in premarket trading after Cowen analyst Karl Ackerman said that the company was "best positioned" to drive profitability and lower its cost structure on NAND, relative to other players. "Micron has the greatest bit density/wafer and lowest manufacturing cost on 64L TLC 3D NAND today," he wrote. "We think it is highly probable MU could extend its cost leadership to 96L 3D NAND." Micron reports after the bell Wednesday. Ackerman said that Western Digital Corp. also looks "well positioned" to drive cost improvements, and he maintained his long-term optimism on equipment makers "given increasing capital intensity of producing 3D NAND." Lam Research Corp. is Ackerman's favored name there. Micron shares are up 92% over the past 12 months, while the S&P 500 has gained 13% and the PHLX Semiconductor Index has risen 29%.

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Wed, 20 Jun 2018 12:31:45 GMT
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PayPal stock gains after Wedbush cheers Hyperwallet acquisitionExternal Link

PayPal Holdings Inc. shares are up 0.3% in premarket trading Wednesday after Wedbush analyst Moshe Katri said that the company's recently announced acquisition of Hyperwallet had strategic benefits. The purchase "strengthens its merchant-facing platform," Katri wrote of PayPal. "Combined with recently acquired iZettle, it also enhances the company's ongoing monetization effort." He wrote that the two deals help place PayPal "on par competitively" with Square Inc. and Adyen NV . PayPal said Tuesday that it would be acquiring Hyperwallet, a payouts platform, for $400 million. Hyperwallet enables companies like Expedia to pay gig-economy sellers who, say, make their homes available to guests via a home-sharing platform. PayPal shares are up 61% in the past year, while the S&P 500 has gained 13%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 20 Jun 2018 12:22:33 GMT
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